What would be the formula for "Find the average daily balance, including new purchases."? (there is a picture for this question and I'd include it but, I don't know how yet)
Stacey Warren - Expert brainly.com
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You can attach files by clicking "attach file" under the text box
Or you can host the pic on a site like imgur or something, then give the link
(took me a second to see what you were talking about, I literally just joined the site) thanks!
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I'm just not sure which numbers to add and which ones to subtract...
ok so what the average daily balance does is find the balance for the whole month, as if it were a snapshot. The balance changes quite a bit, but the credit card company only charges interest on one figure: the average daily balance
what we do is multiply the number of days with the balance for that time period
675*5 = 3,375
1085*1 = 1085
1085*9 = 9,765
then you add all of those products up and then divide by 31 (the total number of days in the month)
ok, thank you!!!! :)
tell me what you get
I'm getting the same
thank you thank you thank you!! :D
so this is the balance that the CC company will use to figure out the finance (ie interest) charge